Governmental Activities Tax Revenues by Source
Taxes
Facilities development admission
Lodgers
Motor vehicle ownership fee
Occupational privilege
Property
Sales and use
Specific ownership
Telephone
Total primary government taxes
$
$
2007
10,092
49,651
16,963
42,751
227,188
455,436
64
9,918
812,063
$
$
2008
10,016
53,773
19,514
43,040
274,809
468,137
54
9,814
879,157
$
$
$
$
2010
7,160
49,136
17,004
41,818
295,381
447,071
84
9,653
867,307
$
$
2011
8,325
55,620
17,140
41,141
288,106
481,023
162
9,871
901,388
31%
7%
4%
2% 1%
1%
$
$
2012
8,986
57,956
19,784
43,227
287,062
494,495
191
9,979
921,680
Property
Occupational privilege
Lodgers
Specific ownership
54%
2016 Tax Revenues by Source
2009
7,082
43,982
17,907
39,551
259,963
421,838
47
9,596
799,966
Sales and use
Facilities development admission
Motor vehicle ownership
Telephone
Last Ten Fiscal Years (dollars in thousands - modified accrual basis of accounting)
$
$
2013
8,721
63,482
21,000
44,515
331,914
539,348
193
8,964
1,018,137
$
$
2014
9,262
75,579
23,944
46,438
347,079
608,307
213
10,148
1,120,970
$
$
2015
12,569
82,376
26,647
48,293
349,176
640,251
232
10,628
1,170,172
$
$
2016
12,401
88,872
26,787
49,864
399,859
676,916
57
9,446
1,264,202
174 City and County of Denver
Sales Tax by Category
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
1%
$
$
2%
3.50%
3%
3%
3.62%
40,913
89,713
468,137
44,383
99,702
455,436
$
n/a
n/a
n/a
n/a
2008
17,691
16,953
17,961
67,878
22,461
37,741
39,584
10,719
30,145
34,947
41,431
$
35,826
38,350
11,942
24,503
34,033
36,164
2007
16,474
16,209
16,210
60,097
21,543
Note:The 2016 tax rate for retail marijuana is 7.12%
Source: Denver Controller’s Office
City direct sales tax rate
Apparel stores
General merchandise
Food stores
Eating and drinking establishments
Home furnishings, electronics
and appliances
Building materials and farm tools
Auto dealers and supplies
Service stations
Public utilities
Manufacturing
Information producers
and distributors
Marijuana stores - retail
Marijuana stores not including retail
Other retail stores
All other outlets
Total
Last Ten Calendar Years (dollars in thousands)
$
$
4%
$
$
3.62%
34,631
84,440
447,071
n/a
n/a
30,962
35,853
20,345
28,783
31,526
37,531
2010
18,356
16,921
18,790
68,520
20,413
$
$
3.62%
47,463
81,780
481,023
n/a
n/a
33,700
41,544
16,798
30,333
35,073
40,445
2011
20,237
16,825
19,467
75,531
21,827
4%
4%
6%
6%
2016 Sales Tax by Category
3.62%
29,743
87,542
421,838
n/a
n/a
31,258
33,927
14,792
26,118
29,666
36,154
2009
16,241
14,699
17,795
64,798
19,105
$
$
6%
7%
3.62%
51,512
83,824
494,495
n/a
n/a
36,837
44,371
15,100
28,164
36,415
38,576
2012
21,796
17,161
20,269
77,886
22,584
$
$
9%
3.62%
52,656
97,113
539,348
n/a
n/a
44,188
50,021
14,396
30,944
40,651
37,877
2013
22,778
17,704
21,399
85,211
24,410
12%
$
$
16%
3.62%
55,634
107,636
608,307
10,761
6,451
52,708
55,414
15,027
32,931
46,870
38,213
2014
24,111
18,276
23,698
94,439
26,138
17%
$
$
3.62%
55,530
117,289
640,251
15,636
6,996
55,122
62,000
15,058
31,106
46,166
37,036
2015
25,523
18,527
24,994
101,242
28,026
$
$
3.65%
45,338
117,852
676,916
20,611
7,730
78,695
62,801
13,333
30,285
38,616
40,450
2016
26,029
22,189
27,972
106,903
38,112
Statistical (Unaudited)
175
$
$
$
13.9%
76,813,114
27.119
$
$
$
13.8%
78,563,808
26.535
2008
210,633
4,510,588
4,383,397
125,108
56
3,286
792,393
837,783
10,863,244
$
$
$
14.5%
82,844,303
25.308
2009
231,563
4,545,672
5,452,125
144,380
44
4,020
813,037
821,502
12,012,343
$
$
$
14.4%
83,151,295
26.043
2010
218,132
4,598,108
5,426,538
142,372
44
63
739,224
835,603
11,960,084
$
$
$
14.2%
77,142,543
28.419
2011
194,051
4,325,747
4,655,265
147,433
120
726,354
888,485
10,937,455
$
$
$
14.0%
76,697,449
32.926
2012
193,826
4,345,018
4,567,479
120,329
55
722,513
808,218
10,757,438
$
$
$
14.2%
79,581,379
33.119
2013
212,668
4,469,706
4,886,510
124,503
69
741,538
829,207
11,264,201
$
$
$
14.1%
80,891,083
33.055
2014
181,758
4,567,603
4,909,533
122,425
69
765,486
838,378
11,385,252
$
$
$
14.4%
100,203,607
30.119
2015
219,528
5,919,659
6,445,053
150,606
79
825,798
824,187
14,384,910
$
$
$
13.9%
105,772,919
0.500
2016
186,774
6,059,029
6,521,348
143,930
138
827,331
920,535
14,659,085
Taxable assessed values are reported net of tax-exempt property.
Source: Abstract of Assessment documents
In November 2012, Denver voters removed the Taxpayer Bill of Rights (TABOR) limits on property tax, and as a result mill levies assessed after 2012 will not be subject to TABOR limits.
Note:The TABOR amendment, which was approved by Colorado voters in 1992, requires all assessors to use only the market approach in valuing residential property. For commercial real property, the
income approach is generally the appropriate method to use in estimating value. Under Colorado law, all assessors must reappraise real property every two years; this occurs in every odd-numbered
year (2007, 2009, 2011, 2013, 2015, and 2017). If home sales have been very active, and home prices have been increasing, then the property value and assessment for many types and styles of
homes typically will increase during these reappraisals. Property tax is determined by the mill levy, which is set in December of each year by the taxing authorities in Denver (the school district, city
council, special districts, etc.)
Assessed value as a percentage
of estimated actual value
Estimated actual taxable value
Total direct tax rate
Vacant property
Residential property
Commercial property
Industrial property
Agricultural property
Oil and gas property
Personal property
State assessed property
Total taxable assessed value
2007
198,284
4,394,658
4,372,532
130,130
113
1,279
779,600
784,031
10,660,627
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years (dollars in thousands)
176 City and County of Denver
0
10
20
30
40
50
60
70
80
90
66.897
2007
2008
66.783
0.591
33.464
6.193
39.657
6.389
4.470
3.110
3.698
1.011
1.371
1.636
2
3
26.535
2008
2009
66.591
0.576
33.172
6.800
39.972
8.455
4.470
3.110
3.556
1.019
1.317
1.572
2.544
26.043
2010
71.307
0.623
34.307
7.958
42.265
9.805
3.980
3.600
4.101
1.030
1.519
1.812
2.572
28.419
2011
2010
2012
General Taxes
2011
2013
2014
Mill Levy - Total General Taxes
65.139
0.569
32.912
6.350
39.262
5.867
4.470
3.110
3.394
1.013
1.258
1.502
2.170
2.524
25.308
2009
2015
2016
84.071
0.657
39.575
10.913
50.488
13.362
4.170
3.780
4.520
1.033
1.587
1.893
2.581
32.926
2012
83.090
0.672
38.853
10.446
49.299
13.185
4.330
4.103
4.480
1.021
1.572
1.875
2.553
33.119
2013
83.054
0.700
38.780
10.519
49.299
13.156
4.100
4.333
4.470
1.016
1.568
1.870
2.542
33.055
2014
78.127
0.611
37.147
10.250
47.397
11.331
5.433
3.000
3.849
1.012
1.350
1.610
2.534
30.119
2015
Source: Abstract of Assessment documents
Note:The mill levy shown for total general taxes does not include special district mill levies.
In November 2012, Denver voters removed the Taxpayer Bill of Rights (TABOR) limits on property tax, and as a result mill levies assessed after 2012 will not be subject to TABOR limits.
Total General Taxes
0.568
33.611
5.599
39.210
School District #1
General fund
Bond redemption
Total School District #1
Urban Drainage & Flood Control District
6.306
4.750
3.683
3.630
1.013
1.345
1.607
2
3
27.119
County Direct Rates
General fund
Bond principal
Bond interest
Social services
Developmentally disabled
Fire pension
Police pension
Capital improvement
Capital maintenance
Affordable housing
Total County Direct Rates
2007
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years (mill levy - total general taxes)
82.547
0.620
41.013
9.383
50.396
11.276
7.433
1.000
3.835
1.010
1.345
1.604
3.528
0.500
31.531
2016
Statistical (Unaudited)
177
178 City and County of Denver
Principal Property Taxpayers
Current Year and Nine Years Ago (dollars in thousands)
Taxpayer
Value
Public Service Co.
Brookfield Properties
CenturyLink, Inc.1
Beacon Capital Partners
Invesco Realty Advisers Inc.
Franklin Streen Properties
Taubman Centers Inc.
Kroenke Sports Enterprises
Columbia-Healthone, LLC
UBS Realty Investors
Callahan Capital Partners
Republic Plaza Properties
Frontier Airlines
United Airlines, Inc.
LBA Realty Fund II Co. IV
Transwestern Broadreach
Crescent Real Estate Equities
Temple Hoyne Buell Foundation
Totals
$
2016
Rank
252,378
192,537
141,253
130,493
126,558
118,949
105,713
100,042
99,519
99,189
$
Total Taxable
1
2
3
4
5
6
7
8
9
10
1.75%
1.34%
0.98%
0.91%
0.88%
0.83%
0.73%
0.70%
0.69%
0.69%
1,366,631
9.50%
Value
$
$
2
1.60%
197,929
1
1.86%
96,501
71,893
72,018
103,997
69,152
66,155
67,390
75,206
991,099
4
7
6
3
8
10
9
5
0.91%
0.67%
0.68%
0.98%
0.65%
0.62%
0.63%
0.70%
9.30%
10%
90%
Principal property taxpayers
2.00%
1.80%
1.75%
1.60%
1.40%
1.34%
1.20%
1.00%
0.98%
0.80%
0.60%
0.40%
0.20%
0.00%
1
CenturyLink, Inc. merged with Qwest Corp. in April 2011.
Source: Denver County Assessor
0.91%
0.88%
0.83%
0.73%
0.70%
0.69%
Total Taxable
170,858
2016 Principal Property Taxpayers
All other taxpayers
2007
Rank
0.69%
Notes to Basic Financial Statements
Financial179
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Property Tax Levies and Collections
$
$
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
$
Bond Interest Fund
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Bond Principal Fund
2016
36,921
31,679
35,052
34,724
36,723
37,827
42,895
45,572
39,667
13,461
47,618
45,532
50,381
49,908
40,599
41,730
45,268
43,121
71,837
100,054
6,730
Taxes levied
$
63,216
65,079
66,126
68,934
73,181
106,177
109,268
109,682
118,856
120,180
Affordable Housing
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
General Fund
255
248
234
238
248
128
184
241
211
65
329
357
336
343
274
141
194
228
381
487
33
Prepaid amounts
collected within the fiscal
year of the levy
437
510
441
473
494
358
469
580
631
586
Last Ten Fiscal Years (dollars in thousands)
$
$
$
36,336
30,820
34,232
34,077
35,770
37,455
42,302
44,928
38,942
n/a
46,862
44,298
49,202
48,978
39,546
41,320
44,643
42,512
70,525
n/a
-
Amount collected in
year due
$
62,213
63,315
64,579
67,649
71,281
105,134
107,758
108,074
116,532
n/a
99.11%
98.07%
98.33%
98.82%
98.08%
99.35%
99.05%
99.12%
98.70%
0.48%
99.10%
98.07%
98.33%
98.82%
98.08%
99.36%
99.05%
99.12%
98.70%
0.49%
0.49%
Percentage of levy
prepaid and collected in
year due
99.10%
98.07%
98.33%
98.82%
98.08%
99.35%
99.05%
99.06%
98.58%
0.49%
(130)
201
(311)
(98)
(133)
8
(41)
n/a
(168)
289
(448)
(141)
(147)
8
(44)
n/a
n/a
Collections in
subsequent years
(222)
413
(588)
(195)
(264)
20
(104)
n/a
1
$
$
$
36,461
31,269
34,155
34,217
35,885
37,591
42,445
45,169
39,153
47,024
44,944
49,090
49,180
39,673
41,469
44,793
42,740
70,906
-
-
-
Amount
62,428
64,238
64,432
67,927
71,511
105,512
108,123
108,654
117,163
-
98.75%
98.71%
97.44%
98.54%
97.72%
99.38%
98.95%
99.12%
98.70%
-
98.75%
98.71%
97.44%
98.54%
97.72%
99.37%
98.95%
99.12%
98.70%
-
-
Percentage of
levy
98.75%
98.71%
97.44%
98.54%
97.72%
99.37%
98.95%
99.06%
98.58%
-
Total collections to date
2
continued
40
31
51
44
Cancellations
68
63
180 City and County of Denver
$
$
242,270
239,659
254,135
258,518
255,918
295,438
310,922
312,228
360,128
365,281
47,969
49,403
52,905
53,872
53,075
53,369
55,183
55,322
64,472
65,381
1,675
1,877
1,695
1,775
1,729
994
1,331
1,646
1,906
1,773
$
$
238,424
233,164
248,189
253,699
249,275
292,531
306,624
307,746
353,351
n/a
47,207
48,065
51,668
52,868
51,697
52,844
54,420
54,526
63,255
n/a
99.10%
98.07%
98.33%
98.82%
98.08%
99.35%
99.05%
99.09%
98.65%
0.49%
99.10%
98.07%
98.33%
98.82%
98.08%
99.35%
99.05%
99.09%
98.64%
0.49%
Percentage of levy
prepaid and collected in
year due
99.10%
98.07%
98.33%
98.82%
98.08%
99.34%
99.04%
99.11%
98.69%
0.48%
(853)
1,522
(2,259)
(732)
(925)
59
(297)
n/a
(169)
314
(471)
(153)
(192)
11
(53)
n/a
Collections in
subsequent years
(164)
305
(441)
(145)
(189)
12
(55)
n/a
1
$
$
$
239,247
236,563
247,625
254,743
250,079
293,584
307,658
309,392
355,257
47,370
48,765
51,550
53,085
51,864
53,035
54,604
54,818
63,597
-
-
Amount
45,964
47,347
48,398
50,334
51,146
55,977
57,693
58,011
64,438
-
261
232
52
48
Cancellations
50
46
-
Source:
Denver Controller’s Office
Note:The property tax is certified by the City’s Assessor on or before December 15 of each year, unless there is a special election. Property taxes are due and considered earned on January 1 following the
year levied. The first and second halves become delinquent on March 1 and June 16, respectively.
98.75%
98.71%
97.44%
98.54%
97.72%
99.37%
98.95%
99.09%
98.65%
-
98.75%
98.71%
97.44%
98.54%
97.72%
99.37%
98.95%
99.09%
98.64%
-
Percentage of
levy
98.75%
98.71%
97.44%
98.54%
97.72%
99.36%
98.95%
99.11%
98.69%
-
Total collections to date
Taxes are determined to be uncollectable after six (6) years from the date of becoming delinquent and cancelled as authorized by C.R.S. 39-10-114(2)(b).
2
Net of adjustments based upon the appeals process.
1
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Total
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
332
386
353
370
359
180
237
292
342
318
Prepaid amounts
collected within the fiscal
year of the levy
322
376
331
351
354
187
247
305
341
317
Capital Improvement and Maintenance Funds
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Taxes levied
$
46,545
47,966
49,671
51,081
52,340
56,335
58,308
58,530
65,295
66,205
Human Services Fund
Amount collected in
year due
$
45,806
46,666
48,508
50,128
50,981
55,778
57,501
57,706
64,097
n/a
Property Tax Levies and Collections, continued
Last Ten Fiscal Years (dollars in thousands)
Statistical (Unaudited)
181